Fintech co Backspace Tech raises $450-K

Chennai-based Software-as-a-Service (SaaS) startup Backspace Tech has raised USD 450,000 in a pre-seed round from Mohan K and Jai Kumar (founders, Ippopay), Omar Bin (founder, UAE-based Foloosi), the founders of M2P and other angel investors. Backspace Tech offers a SaaS platform to financial institutions to solve disputes and chargebacks on UPI and card payments. It targets both issuer and acquirer banks. The startup will use the fresh capital to strengthen technology stack, expand the team, and fund its go-to-market strategy.